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      <image:title>In the News - An Informal Guide to Finding Value in the Ag Economy - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>In the News - An Informal Guide to Finding Value in the Ag Economy - Make it stand out</image:title>
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      <image:title>In the News - An Informal Guide to Finding Value in the Ag Economy - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>In the News - An Informal Guide to Finding Value in the Ag Economy - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>In the News - An Informal Guide to Finding Value in the Ag Economy - Make it stand out</image:title>
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      <image:title>In the News - An Informal Guide to Finding Value in the Ag Economy - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>In the News - June 2025 Issue - The Guidepost by Trailhead Capital - Make it stand out</image:title>
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      <image:caption>Trailhead Capital Managing Partner</image:caption>
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      <image:title>In the News - Venture Capital Investing in Regenerative Agriculture - Make it stand out</image:title>
      <image:caption>Trailhead Capital investors and team at their annual meeting at Stone Barns in upstate New York</image:caption>
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      <image:title>In the News - Provision Honored With 2024 AgTech Breakthrough Award - Make it stand out</image:title>
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      <image:title>In the News - Rockefeller Foundation’s Zero Gap Fund releases its 2023 State of the Portfolio featuring Trailhead Capital - Make it stand out</image:title>
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    <lastmod>2024-08-04</lastmod>
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    <loc>https://www.trailheadcap.com/in-the-news/seed-treatment-without-compromise-clean-crop</loc>
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    <lastmod>2024-05-13</lastmod>
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      <image:title>In the News - Seed treatment, without compromise? Cold plasma is ready for prime time, says Clean Crop Technologies - Make it stand out</image:title>
      <image:caption>Quality assurance officer Michaela Elliott and senior R&amp;D process engineer Sandon Hess. Image credit: Clean Crop Technologies The regulatory pathway Under the US Environmental Protection Agency (EPA), Clean Crop Technologies’ cold plasma tech is considered a pesticidal device, White explained. “There’s a decision tree they go through where they say, are you making pesticidal claims? If so, do you leave residues on the product that you’ve treated? If the answer is yes, which is the case with 98% of pesticide products, you have to go through the pathway that most people think of, which can involve years of validation and environmental studies. “If you don’t leave residues in the seed, and we don’t, so there’s no difference being treated and untreated seed, you can be fast tracked as a pesticidal device. But for every claim we make, we have to have scientific evidence to back it up, we have to be a registered manufacturer and keep the EPA apprised of all of our activities and claims. So it has required a fair amount of due diligence and data collection.” The business case for HVACP A sizable percentage of food crops never leaves the farm, in part because market prices may be too low to justify the cost of making additional passes through fields or orchards to harvest crops, labor is scarce, or produce is too ripe or ugly for its target market, according to USDA. But molds, pests and other pathogens also play their part, said White. “The vector for those contaminants is either the soil or it comes in from the seed itself. Today the tools that are mostly used to address those are fairly limited, such as hot water, chemical washes, and fungicidal coatings, which tend to force seed companies and growers to choose between seed that is clean or seed that has good vigor, germination, and viability.” Every crop is different, he stressed, “but we found that for seed companies that use our treatment, they can sell safely to growers a higher percentage of their crop. Then at the grower level with some of our customers, they’ve been able to see an increase in yields either from reducing that pathogen pressure, or because they can stop using existing controls such as wet chemical treatments that can harm germination.” On cost, Clean Crop’s tech tends to be “benchmarked against the cost of hardware and labor for wet treatments, which are very labor intensive,” he said. “It can take multiple days to wet and dry seeds and if you dry them too fast seeds can die and if you dry them too slowly, they can start germinating. We’ve only gotten into applications where we’ve been able to show out of the gate that we are at cost parity or below the existing technology.” Cold plasma for seed treatment: ‘We’re finally at the point where it’s starting to get taken seriously’ While cold plasma is not a new concept, it is only now beginning to pick up traction in the seed treatment arena, said White, who said Clean Crop has “a robust IP portfolio protecting both our process and hardware… It’s something that’s been around for decades within academia, but we’re finally at the point where it’s starting to get taken seriously [in crop protection]. “So in this space now there is us and [UK-based startup] Zayndu, and a few university labs that may spin out companies in the next few years. It’s still early days, but we’re finding that this treatment is a lot more robust, a lot more dynamic, than we thought a few years ago. Now we have a strong handle on what are the key questions to ask, what are the key tests to run, and we’ve collapsed that adaptation process from months to weeks [for a new crop].” He added: “Our key differentiators are a cluster of process innovations that enable a fully automated and scalable treatment system, achieving customer requirements in minutes, where most batch processes we are aware of require hours.  “We are using atmospheric plasma today, but have built our company to leverage the state of the art in plasma to enhance seed cleanliness and performance. We are constantly iterating across a wide range of process conditions to achieve this, including pressure.” Given that soil, as well as seeds, can be a vector for pathogens, how much difference will cold plasma seed treatments make? According to White: “Season over season, there’s no persistent effect [of our seed treatment] on soil, but what’s really interesting is that as seeds travel the world, they’re spreading diseases that then become endemic in the soil. “So over time, if you’re able to reduce that pathogen load on the seeds before they go into the field, over 10 or 20 seasons, you may be able to reduce that overall pressure as long as growers are rotating crops effectively.” Unit economics and funding Asked about funding, he said, “We’ve now raised $13 million and we’ll be going back to market later this year, early next year [to raise more]. I think the one thing that has definitely shifted compared to say two years ago, is that there is now much less of a focus on growth at all costs and much more interest in unit economics. “So that’s really where we are focused and we have very good unit economics today. We have the fundamentals of a really scalable, profitable business. There are obviously hardware costs upfront, but we’ve developed a pretty a pretty solid financing strategy that’s enabled us to onboard machines without putting them on our balance sheet and pay them off as a function of recurring revenue in a really competitive way. “We’ve built a flywheel that is going to enable us to build and deploy these machines without having to finance them with equity financing.”</image:caption>
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      <image:title>In the News - Trailhead Capital’s New Impact Metrics and the Future of Measuring Regenerative Agriculture - Make it stand out</image:title>
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  <url>
    <loc>https://www.trailheadcap.com/in-the-news/vence-secures-strategic-funding-from-merck-shell-for-virtual-fencing-tech</loc>
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    <lastmod>2022-04-10</lastmod>
  </url>
  <url>
    <loc>https://www.trailheadcap.com/in-the-news/clean-crop-technologies-raises-6m-series-a-led-by-regen-ventures-trailhead-capital-and-the-massmutual-catalyst-fund</loc>
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      <image:title>In the News - Clean Crop Technologies raises $6M Series A led by ReGen Ventures, Trailhead Capital, and the MassMutual Catalyst Fund - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.trailheadcap.com/work-with-us</loc>
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    <priority>0.75</priority>
    <lastmod>2022-08-01</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609893957211-ZOJ54NPGO2ZSDUA7YV3O/image-asset.jpeg</image:loc>
      <image:title>Work With Us</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1611627768202-YNWHSGC6F1S0E8JISEAG/image-asset.jpeg</image:loc>
      <image:title>Work With Us</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1611628045903-T5203CWTGYPXRUGXEYV0/image-asset.jpeg</image:loc>
      <image:title>Work With Us</image:title>
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  <url>
    <loc>https://www.trailheadcap.com/our-team</loc>
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    <priority>0.75</priority>
    <lastmod>2022-10-25</lastmod>
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  <url>
    <loc>https://www.trailheadcap.com/investment-framework</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2022-08-01</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1611798174889-F6XBB85ADTY7LO07BYFG/chart_font3.png</image:loc>
      <image:title>Investment Framework</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609810199359-YV08BIL8VOR3VMTMVODS/investment_framework_soil.png</image:loc>
      <image:title>Investment Framework - Soil</image:title>
      <image:caption>We honor the power of healthy soil and assess the impacts of potential investments, with an aim to: improve crop yield and nutrient density of food capture and store carbon bolster aquifer quality provide pollinator food and habitat capture/prevent runoff promote insect health and local microbiology increase food quality, animal health, and human health</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609810241677-TCU99DVWEGJMSKKXS06M/investment_framework_systems.png</image:loc>
      <image:title>Investment Framework - Systems</image:title>
      <image:caption>We are always seeking to build value, and will mandate an examination of the systemic impact of any potential investment with the aim to: bolster profit margins preserve resources reduce greenhouse gases build efficient markets valuing cost of externalities mitigate effects of pathogens embed resiliency</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609811709780-4THQJ0T8L0O1DKP72XXG/investment_framework_stakeholders_2.png</image:loc>
      <image:title>Investment Framework - Stakeholders</image:title>
      <image:caption>We recognize that no company acts in a silo, and that every decision has a ripple effect on multiple stakeholders. We live in an interdependent world. Investing through this lens, we seek companies which similarly take stakeholder impact into consideration and aim to: realign value to farmers and ranchers build local and direct markets capturing additional profit margin for land stewards remunerate regeneration develop resilient communities provide long-term compounding economic and social returns</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.trailheadcap.com/home</loc>
    <changefreq>daily</changefreq>
    <priority>1.0</priority>
    <lastmod>2023-10-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1611102174832-Y7GH7AZET7EVBF26E327/home_page_agriculture2.png</image:loc>
      <image:title>Home - Trailhead Capital is a mission-driven investment firm seeking to create outstanding financial, societal, and ecological returns by backing entrepreneurs who are building the regenerative future of food and agriculture.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609376586020-H5UEKZ72AS6L9VLNL53M/stake_tall_dark.png</image:loc>
      <image:title>Home - STAKEHOLDERS</image:title>
      <image:caption>We recognize that no company acts in a silo, and that every decision has a ripple effect on multiple stakeholders</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609376506469-P438UEPC1Q3JL5WOQGVH/soil_tall_dark.png</image:loc>
      <image:title>Home - SOIL</image:title>
      <image:caption>We honor the power of healthy soil and assess the impacts of potential investments</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1609376552185-NGGI7QRICM17D07P8UQ8/systems_tall_dark.png</image:loc>
      <image:title>Home - SYSTEMS</image:title>
      <image:caption>We are always seeking to build value, and will mandate an examination of the systemic impact of any potential investment</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.trailheadcap.com/portfolio-companies</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-12-04</lastmod>
  </url>
  <url>
    <loc>https://www.trailheadcap.com/investment-verticals</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-12-03</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1611180996827-FXGL47I3TYFQI6WOIJUH/post-producer2.png</image:loc>
      <image:title>Investment Verticals - Post-Producer</image:title>
      <image:caption>Outside the farm gate lay robust opportunities for investment in companies disrupting many of the issues complicating and harming the modern food and agriculture system. We see exciting opportunities to create replicable models of localized/regionalized food systems. Investable areas include: alternative proteins, processing tech, spoilage/waste tech, and supply chain logistics and digitization (AI/ML/predictive analytics).</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1611102475162-VMBSYZXFUQX0NA4SEEK5/producer_edit.png</image:loc>
      <image:title>Investment Verticals - Producer</image:title>
      <image:caption>Farming practices and technologies focused on soil health, biodiversity promotion, water retention, and carbon drawdown will become the dominant global paradigm moving forward. We see a beautiful future of de-commoditization and identity preservation of crops grown in a regenerative manner. Investable areas include: water/irrigation tech, Carbon/Biodiversity, biological fertilizers, pollination tech, novel farming (agroforestry, controlled environment ag, etc), and future farm implements/robotics.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.trailheadcap.com/our-advisors</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2022-08-01</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610761485391-K0UK8Q897T1LW6T1CQJ9/rodale-institute-logo.png</image:loc>
      <image:title>Our Advisors</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759672125-88YX0ZM9CFZ6CK6H7SKP/slevine.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Seth Levine Senior Advisor Founding Partner - The Foundry Group</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/081e439c-92f8-4430-8948-69e78eacbca6/bobby.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Bobby Pelz Founding Partner - Trailhead Capital Co-Founder - McDonald Pelz</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/e6b38cb8-1aab-40b5-b5d1-1928719b4837/tripp+%281%29.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Tripp Wall Founding Partner - Trailhead Capital Founder/CEO - Pantheon Regeneration</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759662174-YJKMF7N8TDOG727IPSH1/beccajablonski.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Dr. Becca Jablonski Agricultural &amp; Resource Economics - CSU</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759669672-DVMO7AJJV87YMN46FBC9/ptaylor.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Dr. Phil Taylor Founder - Mad Agriculture</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759657493-4LPAWA9O3DQZ0AUY2F8B/dcameron.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Dr. Doug Cameron Fmr Chief Scientist - Cargill Fmr Chief Scientific Officer - Khosla Ventures</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759660445-K10UOPW15K6KV2J4G1OZ/jleighton.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Jim Leighton Fmr CEO - Inghams Group Fmr COO - Boulder Brands Fmr President - Perdue Foods</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759667844-13UL1H3XFDQ56POWPQEO/sschroder.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Soren Schroder Fmr CEO - BUNGE</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759666918-SZ849SIE9AALF70EBB0J/peggyliu.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Peggy Liu Chairperson - JUCCCE BoD - Project Drawdown</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759660899-ZK1HDOLXET5ZYJ4ETPVK/mcain.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Matthew Cain Founder &amp; Managing Partner - Derailleur Capital</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/1610759661116-TF2UWNETLHWAVVRCTLU7/mretzloff.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Mark Retzloff Co-Founder - Horizon, Aurora</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/100b9ef7-2d7d-45ad-839c-1744c865ac5b/acorsaro_update.png</image:loc>
      <image:title>Our Advisors</image:title>
      <image:caption>Anthony Corsaro Director of Business Development - Regenerative Food Systems Investment</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5fe4dfa71cadc734f7f4ade8/e3abd57c-7e0c-48a0-a05d-cad1f6cee50e/elliemoss.png</image:loc>
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